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Savers are feeling more confident in their ability to put money aside. The proportion of consumers saying they saved regularly or whenever they could has risen 2 percentage points to 67 per cent over the past year, according to the quarterly Lloyds Bank Savings Index. Some 75 per cent of respondents in Greater London had saved, the highest proportion in the country.

It is also becoming less common for consumers to dip into their savings to pay down debts, with only 17 per cent having done so, 3 percentage points less than in the same quarter last year. Those looking